Survey: Gift Card Sales To Rise

Washington —Gift card sales will total $18.5 billion this holiday season, a 6.6 percent increase over 2004, when holiday gift card sales hit $17.3 billion, according to the third annual National Retail Federation Gift Card Survey, conducted by BIGresearch.

The average consumer will spend $88.03 on gift cards this holiday season, 15.6 percent of their holiday gift budget, the survey found.

“Gift cards present a win-win situation for both consumers and retailers,” said Tracy Mullin, NRF president and CEO. “Gift cards take the guesswork out of giving and since they take up minimal shelf space, they are easy for retailers to stock and display.”